FERMONT, QC, May 20, 2011 /CNW Telbec/ - ArcelorMittal, today announces
the expansion of its Mont-Wright mining complex and additional
construction at Port-Cartier.
The investment will allow ArcelorMittal Mines Canada to increase its
annual production of iron ore concentrate from 14 million tons to 24
million tons by 2013. AMMC is also evaluating increasing its production
of iron ore pellets from 9.2 million tons to 18.5 million tons. The
scheme represents a total investment of CAN$2.1 billion dollars that
will create 8,000 jobs during construction and more than 900 permanent
jobs once completed.
Commenting, Peter Kukielski, Member of the Group Management Board and
Head of Mining for ArcelorMittal, said "ArcelorMittal Mines Canada is a
flagship mining asset for the Group, which offers considerable
opportunity for expansion. We have already announced our intention to
grow our iron ore production to 100 million tons by 2015 and this
expansion forms an important part of that."
This project is subject to environmental and other regulatory approvals.
The announcement took place at Mont-Wright facility under the presence
of Quebec Premier Jean Charest, mayors of Fermont and Port-Cartier,
representatives of the Innu nation as well as hundreds of
representatives from local communities.
This document may contain forward-looking information and statements
about ArcelorMittal and its subsidiaries. These statements include
financial projections and estimates and their underlying assumptions,
statements regarding plans, objectives and expectations with respect to
future operations, products and services, and statements regarding
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words "believe," "expect," "anticipate," "target" or similar
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expectations reflected in such forward-looking statements are
reasonable, investors and holders of ArcelorMittal's securities are
cautioned that forward-looking information and statements are subject
to numerous risks and uncertainties, many of which are difficult to
predict and generally beyond the control of ArcelorMittal, that could
cause actual results and developments to differ materially and
adversely from those expressed in, or implied or projected by, the
forward-looking information and statements.
These risks and uncertainties include those discussed or identified in
the filings with the Luxembourg Stock Market Authority for the
Financial Markets (Commission de Surveillance du Secteur Financier )
and the United States Securities and Exchange Commission (the "SEC")
made or to be made by ArcelorMittal, including ArcelorMittal's Annual
Report on Form 20-F for the year ended December 31, 2010 filed with the
SEC. ArcelorMittal undertakes no obligation to publicly update its
forward-looking statements, whether as a result of new information,
future events, or otherwise.
ArcelorMittal is the world's leading integrated steel and mining
company, with presence in more than 60 countries.
ArcelorMittal is the leader in all major global steel markets, including
automotive, construction, household appliances and packaging, with
leading R&D and technology, as well as sizeable captive supplies of raw
materials and outstanding distribution networks. With an industrial
presence in over 20 countries spanning four continents, the Company
covers all of the key steel markets, from emerging to mature.
Through its core values of sustainability, quality and leadership,
ArcelorMittal commits to operating in a responsible way with respect to
the health, safety and well-being of its employees, contractors and the
communities in which it operates. It is also committed to the
sustainable management of the environment. It takes a leading role in
the industry's efforts to develop breakthrough steelmaking technologies
and is actively researching and developing steel-based technologies and
solutions that contribute to combat climate change.
In 2010, ArcelorMittal had revenues of $78.0 billion and crude steel
production of 90.6 million tonnes, representing approximately 6 per
cent of world steel output.
ArcelorMittal is listed on the stock exchanges of New York (MT),
Amsterdam (MT), Paris (MT), Brussels (MT), Luxembourg (MT) and on the
Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia
For more information about ArcelorMittal visit: www.arcelormittal.com.
About ArcelorMittal Mines Canada
A wholly owned division of ArcelorMittal, world leader in the Steel
industry, ArcelorMittal Mines Canada is one of the principal Canadian
supplier of iron ore products destined to world steel markets. Active
in both mining and first transformation, the Compnay owns important
installations in Quebec, specifically on the North Shore of the Golf of
Saint-Laurence. In Mont-Wright, it exploits an important iron deposit
as well as an iron ore concentrate factory. The site is linked by a 420
kilometre railway owned by the company to the Port-Cartier industrial
complex where is located the iron pellet factory, the private port, the
railway works and the companies administrative headquarters. A proud
supporter of sustainable development, ArcelorMittal Mines Canada is
recognised for the excellence of its products, the competence of its 2
300 employees and its leadership in its industry. For more information,
visit www.arcelormittal.com/minescanada .
For further information:
Director, Communications and Public Affairs
ArcelorMittal Mines Canada
(514) 285-1464 station 1277